The knowledge of history comes in handy in the current conversation on the administration of VAT in Nigeria. It seems, however, antithetical that the people who have the benefit of history on their side are the ones leading agitation that States in Nigeria should begin to collect Value Added Tax instead of the Federal Inland Revenue Service , which by extant laws is responsible for collection. To pry further may unearth a different matter altogether.
Section 8 subsection 1 of the VAT Act compels businesses to register for VAT within the first six months of commencement of activities. The business entity that desires to conduct business with an agency of any tier of government in Nigeria is required to show evidence of VAT registration and past VAT remittances. A registered entity is required to make VAT returns monthly and either pay to or receive from the FIRS the difference between the input VATs and the output VAT.
Whilst it is natural to agitate, those initiating such or are involved in it ought not to just ventilate their displeasure. It is more honourable to seek ways to get the appropriate system of governance look into the plight also. Sometimes it could require lobbying relevant authorities to get your point across and elicit the necessary action.
Mr. James should go ask Chief Ijewere to get the proper historical perspectives of VAT.
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